In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Aslan Pharmaceuticals Ltd (ASLN), with a price target of $12. The company’s shares closed yesterday at $5.70, close to its 52-week low of $5.
“We note that the company has recently reported positive data of ASLAN003 for the treatment of the acute myeloid leukemia (AML), and the data are slated to be presented in early December at the American Society of Hematology (ASH) 2018 meeting in San Diego, CA. Looking forward to additional data readouts from gastric cancer and biliary tract cancer trials in 4Q18, we reiterate our Buy rating and $12 price target.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -7.6% and a 31.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Fennec Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aslan Pharmaceuticals Ltd with a $12 average price target.
Based on Aslan Pharmaceuticals Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.1 million. In comparison, last year the company had a GAAP net loss of $7.96 million.
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Aslan Pharmaceuticals Ltd. is a clinical-stage oncology-focused biopharmaceutical company, which engages in the development of novel therapeutics. Its pipeline includes varlitinib, ASLAN003, ASLAN004, and ASLAN002.